Home > News & Events > November 2006 > News Article

Barnsley company gunning for success

Published: 29th November 2006

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Pictured from the left is Glen Aaron, Managing Director of Static Solutions, together with Grahame Lunt, Investment Manager at SYIF.

A Barnsley manufacturing company are gun hoe thanks to a loan of £47,500 from the South Yorkshire Investment Fund (SYIF).

Static Solutions Limited, based at Zenith Park, Barnsley, is a leading innovation business, dedicated to applying advanced scientific and engineering static control solutions to a wide range of industries.

The company has built an enviable reputation for developing state-of-the-art static control solutions for industry by employing its own unique systems based on half a century's experience and by employing space age technology in areas as diverse as wallpaper printing and medical research.

The loan, which is part of a package of funding, is helping the company to market and distribute the Stat-Gun. The Stat-Gun is a battery operated hand held static control gun, which Static Solutions has been working on for the past 18 months. It is used to remove static electricity, which attracts dust and dirt and if not removed can be potentially dangerous.

Glen Aaron, Managing Director of Static Solutions, said: "As suppliers of static control equipment to industry we are constantly looking to develop new products to add to our range."

"We have now designed and are assembling our new products and the loan from the SYIF has enabled us to finalise the development of the Stat-Gun."

"We are now in the process of marketing the gun and have bought an exhibition stand to promote the Stat-Gun at trade fairs."

Grahame Lunt, Investment Manager at SYIF, said:  "We are always looking for companies such as Static Solutions Ltd. The company has a clear vision and is working hard to develop their own range of products."

"We are pleased that the SYIF loan will go towards further development of the business and wish Static Solutions all the best with the launch of the Stat-Gun."

SYIF provide loans and equity linked investments ranging from £15k to £2.5m to businesses already in, or prepared to relocate to, South Yorkshire. The Fund has already invested over £26 million in 202 businesses.

For more information on how SYIF can help businesses, please go to www.syif.com or call 01709 386 377.

Editor's Notes

About South Yorkshire Investment Fund

South Yorkshire Investment Fund  provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.

Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.

South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.

Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.
http://www.finance-yorkshire.com

For further details please contact Suzanne Tinkler,  on 0845 649 0000.

South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).